Senate Targets U.S. Investments in China Through Key Defense Bill

(Bloomberg) — The Senate attached a measure to the annual defense policy bill that would subject some U.S. investments in China to new requirements, complementing restrictions being weighed by the Biden administration amid increased concern in Washington over China’s development of advanced technology.

The measure, approved Tuesday in a 91–6 vote, would require businesses to notify the government about certain investments in China and other countries of concern, although they wouldn’t be subject to review or possible prohibition.